APTV · 10-Q · 2026Q3 · Full report

Motional Joint Venture

Aptiv PLC · 2026-11-03 · Importance 28 · Surprise 42

Aptiv and Hyundai formed Motional AD LLC in March 2020 to develop and commercialize autonomous-driving technologies. Because the timeline for commercially viable autonomous vehicles has extended and remains uncertain, Motional has required additional funding. Aptiv and Hyundai restructured Aptiv’s interest and funding arrangements in May 2024, eliminating Aptiv’s future funding obligations and reducing its common equity interest from 50% at December 31, 2023 to approximately 15%; Hyundai funding in May 2025 and August 2026 reduced Aptiv’s interest to approximately 12%.

Key facts

• On May 30, 2025, Hyundai invested approximately $440 million in Motional; Aptiv did not participate, and its common equity interest was diluted from approximately 15% to approximately 13%. source
• Aptiv’s 2024 agreement with Hyundai eliminated Aptiv’s future funding obligations to Motional; the transactions completed in May 2024 reduced Aptiv’s Motional common equity interest from 50% at December 31, 2023 to approximately 15%. source
• On August 14, 2026, Hyundai invested approximately $250 million in Motional; Aptiv did not participate, and its common equity interest was diluted from approximately 13% to approximately 12%. source
• Aptiv said the timeline for commercially viable autonomous vehicles has extended and remains uncertain, resulting in additional funding requirements for Motional. source
• Aptiv recognized a net gain of approximately $19 million from the Motional funding transaction completed in August 2026. source
• Aptiv recognized a gain of approximately $19 million, or approximately $0.09 per diluted share, from the August 2026 Motional funding transaction. source
• Aptiv’s equity losses were primarily attributable to the Motional autonomous-driving joint venture and its StradVision investment following conversion of its preferred shares into common shares in the fourth quarter of 2025. source
• Aptiv’s interest in Motional declined from approximately 15% to approximately 12% after Hyundai provided additional funding in May 2025 and August 2026. source